SPEEDY HIRE PLC

Related Party Transaction • Feb 3, 2014

National Storage Mechanism | Additional information

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RNS Number : 1321Z

Speedy Hire PLC

03 February 2014

3 February 2014

Speedy Hire Plc ("Speedy")

New Services Agreement with Babcock International Group ("Babcock")

Speedy, building on its existing longstanding relationship with Babcock, is entering a significant, 3 year services agreement with the company.  The agreement could generate total annual revenues in excess of £10m p.a., although there is no minimum spend commitment by Babcock.

The new agreement will see Speedy support all of the Babcock's UK divisions with an extended range of plant and equipment products and services, making Babcock one of Speedy's most significant customers utilising Speedy's integrated services offering.

Mark Rogerson, newly appointed CEO of Speedy, said:

"This new services agreement builds on the existing support that Speedy already provides to Babcock's Marine & Technology Division. I am delighted that Babcock has given us this opportunity of broadening and deepening our relationship with them".

ENDS

Enquiries:
Speedy Hire Plc
Mark Rogerson, Chief Executive Officer
Lynn Krige, Group Finance Director
Tel : 01942 720000
Hudson Sandler
Nick Lyon, Katie Matthews Tel: 020 7796 4133

Notes to editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from 258 fixed sites throughout the UK - together with a number of on-site facilities at client locations. The Group also operates in the Republic of Ireland and from an international hub, based in the Middle East.

·     The Group supplies a range of services including: the provision of small tools and equipment

·     surveying and measurement instrumentation

·     lifting and materials handling equipment

·     low level access equipment

·     portable compressed air

·     temporary lighting equipment

·     temporary power generation

·     electrical & mechanical pumps

·     temporary site communications

·     light plant & general building equipment

As a differentiation from other general hire companies the Group also provides associated services to manage client risk through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Speedy is accredited nationally to ISO9001, ISO14001 and OHSAS18001 standards. In addition we nationally hold HAE SafeHire accreditation, as well as Achilles Link-up, UVDB, Building Confidence and F-Pal.  Further accreditations include UKAS Specialist Lifting Engineers - for compliance inspections), Constructionline, SAFEcontractor, CHAS, LEEA and being ranked a Platinum company in the Business in the Community (BITC) CR Index 2013.

This information is provided by RNS

The company news service from the London Stock Exchange

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